Solar Panel Cost Guide in Rockford, IL (2024 Update)
- Rockford Solar Installation Cost: $17,167
- 25-Year Savings: $10,814
- Payback Period: 18.4 Years
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Average Cost of Solar Panels in Rockford
Let’s take a look at the average cost of solar panels in Rockford.
Although the national average of solar panels is $2.66 per watt, solar panels in Rockford typically cost around 4.Because a 6.5-kW system is needed to cover the energy needs of a typical home in Rockford, the average price of going solar will be about $17,167 after claiming the federal solar tax credit of 0.
The true cost of your system can be above or below the average in Rockford depending on several factors, such as the brand of solar panels you choose and the solar company you hire.Even with the large upfront cost, the average Rockford homeowner can save around $14,000 on their energy bills over 20 years, which is one of the benefits of solar.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Rockford
| Year | Return on Investment |
|---|---|
| 1 years | $-16,011 |
| 3 years | $-13,698 |
| 5 years | $-11,386 |
| 7 years | $-9,074 |
| 9 years | $-6,761 |
| 11 years | $-4,449 |
| 13 years | $-2,137 |
| 15 years | $176 |
| 17 years | $2,488 |
| 19 years | $4,801 |
| 21 years | $7,113 |
| 23 years | $9,425 |
| 25 years | $11,738 |
Top Solar Installers in Rockford
When making the switch to solar, many homeowners prefer to hire a solar installer since handling can be a time-consuming project. Solar companies offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Rockford
Factors that Affect Solar Panel Costs in Rockford
There are many factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Rockford, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can impact how much you pay. Rockford’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $4,990 | 19.2 years |
| 8 kW | $3.84 | $21,477 | $7,075 | 18.8 years |
| 10 kW | $3.76 | $26,320 | $9,370 | 18.4 years |
| 12 kW | $3.68 | $30,952 | $11,876 | 18.1 years |
| 14 kW | $3.61 | $35,374 | $14,592 | 17.7 years |
| 16 kW | $3.53 | $39,585 | $17,519 | 17.3 years |
| 18 kW | $3.46 | $43,586 | $20,656 | 17.0 years |
| 20 kW | $3.38 | $47,376 | $24,004 | 16.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Rockford, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Rockford, IL Solar Cost FAQs
What is the average cost of installing solar panels in Rockford?
The average cost of solar panels in Rockford is about $18,800 for a 5-kW system and $37,600 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Rockford?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Rockford is currently $143,935, which means you could be looking at a value of about $5,901 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Rockford is a worthwhile investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.